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Sentiment · FY2026 Q1
A pre-earnings brief is ready for DPZ: the setup, what peers and partners said this season, and which analysts to watch. Reading it is a Tellvest Pro feature.
What companies say about each other on earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“The strength of our competitive position led to several noticeable successes in 2025, including new wins with Domino's Canada and TaxSlayer.”
Domino's Canada was a new enterprise payments win for Global Payments in 2025, a read-through to Domino's use of GPN for payment acceptance.
“several marquee switches in the first quarter, including Shopify, Thomson Reuters, and Domino's Pizza”
Domino's Pizza switched its listing to Nasdaq in the first quarter, part of a run of marquee listing transfers that pushed Nasdaq's cumulative switch value past $3 trillion.
“For example, this quarter, Domino's, a merchant gift card client, signed on for routing over STAR and Excel.”
Domino's, an existing Fiserv gift-card client, added debit routing over Fiserv's STAR and Excel networks.
“We’re seeing strong selection from Venmo’s valuable demographic at major brands such as Dominoes, Instacart, and TikTok Shop.”
Domino's is cited among major brands seeing strong customer selection of Pay with Venmo at checkout, part of PayPal's push to grow branded merchant acceptance.
“And to start 2025, we welcomed Domino's, which began on the Nasdaq stock exchange on January 2nd.”
Domino's began trading on Nasdaq on January 2, 2025, another exchange-listing win cited in the quarter's wrap-up.
“Apart from Domino's Pizza Enterprises. We continue to work closely with them to turn their business around and are encouraged by the hiring of their new CEO, Andrew Gregory.”
Domino's Pizza Enterprises (the separately listed Australia/Europe master franchisee) has been a drag on international results and is undergoing a turnaround under new CEO Andrew Gregory.
“we said we're not at our fair share yet, so there's still still should be both in, Uber and DoorDash growth there.”
Domino's sees continued share-growth runway on both Uber and DoorDash aggregator platforms.
“In 2026, we expect continued growth on aggregator platforms, in particular, on DoorDash, where we were not fully rolled out until midyear 2025.”
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Chris O'Cull | Stifel | 6 (0%) |
| Dennis Geiger | UBS | 6 (0%) |
| Danilo Gargiulo | Bernstein | 6 |
Domino's expects growing order volume through DoorDash as its rollout matures, a positive read on the aggregator relationship.
“we really have been pressured by DPE's store closures, which are around 200 stores that they've closed in the first quarter.”
Domino's Pizza Enterprises (its Australia-listed international master franchisee) closed ~200 stores, pressuring Domino's international unit growth, mainly in France and Japan. Read-through: DPE is retrenching store count in weaker international markets.
“Uber tends to be a little bit more urban. DoorDash, a little bit more rural. And a little higher income on Uber than DoorDash.”
Domino's characterizes Uber Eats as skewing more urban and higher-income than DoorDash, with Uber sales tracking to expectations. Read-through: Uber Eats remains a steady aggregator channel for Domino's.
“Q3 marked the first quarter where we were fully rolled out on DoorDash and we remain encouraged about its long-term potential for our business.”
Domino's completed its first full quarter live on DoorDash and expects it to be a meaningful, growing contributor to US comps. Read-through: DoorDash added Domino's as a fully rolled-out marketplace partner.
“I think Jubilant talked about for their fiscal year 250 stores in India.”
Jubilant FoodWorks, Domino's master franchisee in India, guided to 250 new store openings for its fiscal year, reflecting continued strong India growth.
“And I think even Alsea has been doing well. Mexico, yep, has a great value.”
Alsea, Domino's master franchisee in Mexico, is cited as a strong performer among international franchise partners.
“I think specific to DPE, we actually knew about the store closures that were gonna be happening in Japan this year, and they happened in Q1. And based on events that have happened in the last few weeks, I think their executive chairman has reiterated that the strategic plan that was outlined by the previous CEO is still very much on track, but they continue to do evaluations of where things are at, and they may come back with more color as we go forward.”
Domino's Pizza Enterprises (DPE), the master franchisee for Japan, Australia and parts of Europe, closed stores in Japan in Q1 2025; its executive chairman reaffirmed the prior CEO's strategic plan remains on track pending further review.
“But we're really happy with where Uber is. Uber has continued to track to our expectations. Thrilled a bit with where that's going.”
Domino's said its existing Uber Eats delivery partnership continues to perform in line with expectations even as it rolls out a second aggregator, DoorDash.
“We recently completed our national rollout with DoorDash, the largest aggregator in the US. This rollout went extremely well as we were able to apply learnings from our prior launch with Uber. We will now begin marketing on the platform with investments coming from both sides.”
Domino's completed a national rollout on DoorDash with joint marketing investment from both companies, expected to be a meaningful driver of DoorDash's pizza delivery volume in the back half of the year.
“if you look at the DoorDash pizza sales business on their platform versus Uber, it's about 2x”
Domino's is sizing its new DoorDash aggregator opportunity by comparing DoorDash's pizza sales volume to its existing Uber Eats partnership, expecting roughly 2x the contribution.
| Brian Bittner | Oppenheimer | 6 (17%) |
| Dave Palmer | Evercore ISI | 6 (17%) |
| Peter Saleh | BTIG | 6 (0%) |
| John Ivankoe | JPMorgan | 6 (0%) |
| Dave Tarantino | Robert W. Baird | 6 (17%) |
| Lauren Silberman | Deutsche Bank | 5 (0%) |
| Brian Harbour | Morgan Stanley | 5 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Oppenheimer | 1 | 6 (17%) |
| Stifel | 1 | 6 (0%) |
| Evercore ISI | 1 | 6 (17%) |
| JPMorgan | 1 | 6 (0%) |
| BTIG | 1 | 6 (0%) |
| Robert W. Baird | 1 | 6 (17%) |
| Bernstein | 1 | 6 (17%) |
| UBS | 1 | 6 (0%) |
Domino's delivered full-year 3% US same-store sales as guided with positive order counts, and Q4 same-store sales of 3.7% while franchisee profitability grew to $166,000 per store. Operating income grew 8.1% for the full year excluding FX. FY2026 guidance was introduced at 3% US same-store sales, approximately 800 international stores, and approximately 8% operating income growth, while the company achieved number one in US net store growth since 2019 among large QSR brands.
Revenue Growth | Competitive Dynamics | Demand | Guidance Reliability | Geographic Expansion | Pricing | Macroeconomic | Margin | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 5 | 4 | 2 | 5 | 3 | 2 | 1 | 3 |
| 2025Q1 | 8 | 7 | 4 | 4 | 6 | 4 | 4 | 1 |
| 2025Q2 | 6 | 3 | 2 | 3 | 4 | 3 | 2 | 4 |
| 2025Q3 | 5 | 4 | 6 | 4 | 2 | 6 | 3 | 2 |
| 2025Q4 | 6 | 2 | 2 | 2 | 3 | 2 | 1 | 1 |
| 2026Q1 | 3 | 8 | 7 | 4 | 3 | 2 | 2 | 2 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Revenue Growth | 5 | 8 | 6 | 5 | 6 | 3 |
| Competitive Dynamics | 4 | 7 | 3 | 4 | 2 | 8 |
| Demand | 2 | 4 | 2 | 6 | 2 | 7 |
| Guidance Reliability | 5 | 4 | 3 | 4 | 2 | 4 |
| Geographic Expansion | 3 | 6 | 4 | 2 | 3 | 3 |
| Pricing | 2 | 4 | 3 | 6 | 2 | 2 |
| Macroeconomic | 1 | 4 | 2 | 3 | 1 | 2 |
| Margin | 3 | 1 | 4 | 2 | 1 | 2 |
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
DPZ Domino's | 5 | +3.5% | |
| CMG Chipotle Mexican Grill | 5 | +7.4% | |
| DRI Darden Restaurants | 9 | +13.7% | |
| MCD McDonald's Corporation | 7 | +9.4% | |
| SBUX Starbucks | 9 | +8.8% | |
| YUM Yum! Brands | 9 | +15.2% |